Zenith Bank Chairman calls for urban renewal in Nigeria's 21st Century real estate

The Chairman of Zenith Bank and Quantum Luxury Properties, Jim Ovia, is advocating for "planned urbanisation and urban renewal” in Nigeria's real estate sector.

At an event, where real estate experts gathered to discuss ‘The Intelligent Building: The Role of Technology in 21st Century Real Estate’,Ovia said urban renewal is necessary due to the rapid urbanisation Nigeria has experienced.

“Lagos is the second largest city in Africa, and the fastest growing Megacity in the world. Its current population figure stands at almost 25 million. Rapid urbanisation followed by an unplanned urban expansion has resulted in the need for planned urbanisation and urban renewal.

As part of this urban renewal of Lagos, and other cities, he said intelligent buildings, defined as "one that has systems that are self-reliant, has sensors relaying data, and uses the latest technology,” are important.

“Intelligent buildings are a necessity and the future of our building industry in Nigeria. The role of developers and technology in shaping the future of Lagos’ city-scape is therefore very essential and almost obligatory.”

In light of the demand for 'intelligent buildings', Ovia's real estate firm, Quantum Luxury Properties developed 'The Civic Center Towers' earlier this year.

Ovia has described this as “the birth of an Iconic Beacon in Lagos: No two skylines are alike. A city’s skylines serves as a fingerprint.”

This state-of the art building is managed by a central system that "automates lighting and cooling configurations with real-time controls of the building’s energy efficiency, comfort levels, access, fire alarms, and other elements.”

Facilities include a central communication tower, 16-storey all-round wired guaranteed IT services provision of dedicated server space for individual tenant’s Firewall security for each tenant, and an elevated structural floor for mechanical and electrical services.

Also, the building has access card enabled entry to various floors; Security & Safety: CCTV Systems; Intruder Alarm Automated high sensitive fire alarm; Lighting Control; IP Network, Wireless, Wi-Fi, Fitness Centre; Meeting Facilities; Mezzanine Plaza; Recycling Programme; Sewage treatment Plant, among others.

Do you agree that Nigeria needs more intelligent buildings?